The annual summit of World Economic Forum (WEF) kicked off in Davos, Switzerland.

• The World Economic Forum (WEF) is a non-governmental a non-profit organisation based in Geneva, Switzerland.
• WEF is known for its annual summit in Davos, Switzerland.
• The Forum strives in all its efforts to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance.
• Founder Chairperson – Economist Klaus Schwab founded the WEF in 1971 and has been its chairperson since then.
• WEF partnersThe WEF is largely funded by its partnering corporations.
• The WEF provides a platform for these corporations to shape the future, accessing networks and experts to ensure strategic decision-making on the most pressing world issues.
• WEF also partners with public subsidies.
• Major reports published by WEF:
  • Global Competitiveness Report
  • Global IT Report
  • Global Gender Gap Report
  • Global Energy Transition Index
  • Global Risk Report
  • Global Travel and Tourism Report
• Davos – Davos is a town located on the Swiss Alps which hosts the annual WEF’s meeting.
• Davos brings together some 3,000 paying members and selected participants for up to 5 days every January to discuss global issues across 500 sessions.
• Significance of Davos – It has been used as a location for pivotal international diplomacy as leaders are able to break tensions in the town.
• For instance, in 1988 Greece and Turkey avoided war, when the two signed the now famous Davos Declaration.